Practice
Receivables and judicial assets
Whoever is in a hurry sells badly. Whoever arrives prepared chooses.
There is a category of assets that appears on the balance sheet and never at the bank: a scattered book of land instalments, construction progress still to be billed, a court award already final, a queued government payment. All of it has a market price — and that price varies less with the quality of the asset than with the preparation of whoever is selling.
The difference between a well-made assignment and a hurried one lives in two things: documentation organised the way the buyer requires, and more than one counterparty at the table. Whoever arrives with the file ready and three interested parties receives an offer; whoever arrives in a hurry receives a quote.
It is worth saying plainly: in some cases the group's capital may be the buyer. When that happens, the client knows in writing, before any negotiation, with an independent valuation and the express right to take the asset to market to test the price. It is the opposite of the common arrangement, in which whoever structures the deal also buys the asset and nobody mentions it. A declared conflict, with a guaranteed exit, stops being a conflict — it becomes just one more offer on the table, free to lose like any other.
Court-ordered government payments have a particularity that changes the arithmetic: in several states they can be used to settle the holder's own tax debt at face value, rather than sold at a discount on the market. Anyone holding a state liability and a queued credit is sometimes sitting on both sides of the same equation without having done the subtraction.
Structuring fee and success on the amount advanced or monetised, net of the discount. When the group's capital is the buyer of the asset, the client knows in writing before the negotiation, with an independent valuation and the express right to take the asset to market — and our success is the same, whoever buys.
Official sources, at the exact point — the article of law, the service or the search you can use today. None replaces analysis of the specific case, which is our work.
Say in two lines what you need to resolve. An account manager replies personally, in business hours, and the conversation starts where it makes a difference.
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